In the Chinese business-government ecosystem, what is the significance of the term guanxi in China? Group of answer choices Social networks and influential relationships are often more important than laws and regulations. Business leaders are willing to cede political power to the Communist Party as long as no one tries to regulate their industries. Respect for authority ensures a docile workforce that is willing to put up with low pay and harsh working conditions. Business leaders actively work to ensure that foreign competitors are not able to make inroads in domestic markets